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Cryptocurrency trading venues have changed tremendously since Bitcoin’s emergence in 2008 and are still evolving. So, what are the newer exchange models beyond CEXs and DEXs in 2023? Phemex, an innovative crypto exchange, is at the forefront of the hybrid trading approach. Rooted in a firm commitment to decentralization, Phemex provides CEX-like liquidity, user-friendly functionalities, and access to DeFi opportunities through its Phemexia ecosystem. Over the years , crypto currency trading venues have come a long way — from the Bitcoin Market exchange owned and operated by a single anonymous user, dwdollar, in 2010 to automated market makers (AMMs) relying on mathematical formulas to price assets a decade later. Centralized exchanges (CEXs) use an order book where market makers and takers place their orders. Their order books then match buyers and sellers, and the exchanges take a small portion of the transaction as a fee. Their counterparts, decentralized exchanges (DEXs), opera...

Users were prevented from withdrawing their CYBER Earn assets on the exchange due to a cross-chain bridging issue. Crypto exchange Binance is refunding users 1 million Tether ($1 million) over its handling of the CyberConnect (CYBER) token incident . As narrated by the exchange on Sept. 7, a price discrepancy on listed CYBER tokens occurred the week prior due to a liquidity crunch constricting CYBER cross-chain bridges on Korean cryptocurrency exchange Upbit. This led to arbitrageurs borrowing CYBER from Binance to profit from the differential. In turn, Binance users who staked CYBER in its Flexible Earn Program were barred from redemptions as the staked assets had been borrowed, reaching the loan limit. The exchange stated: "Other than Proof-of-Stake (PoS) based products, a large part of crypto flexible financial products generate income by lending out subscribed assets to other users via Margin or collateralized loans. Under extreme conditions, borrowers may not be able to r...

Even with a price correction to $29,000, several Bitcoin price metrics show traders casting bets on a quick rebound. On July 24, Bitcoin (BTC) experienced a flash crash, plummeting to $29,000 in a movement now attributed to significant BTC holders potentially liquidating their positions.  Amidst the crash and market uncertainty, Bitcoin's three major trading metrics continue to project a bullish outlook, signifying that professional traders have not reduced their leverage longs through the use of margin and derivatives. Analytics firm Glassnode reported a surge in whales' inflow to exchanges, reaching its highest level in over three years at 41% of the total. This forceful sell-off from whales alarmed investors, especially in light of the absence of any significant negative events impacting Bitcoin in the past month. Notably, a major concern stems from the ongoing court cases by the U.S. Securities and Exchange Commission (SEC) against leading exchanges, Binance and Coinbase....

Bitcoin bulls have failed to step in, increasing the chance for a retest of the $29,500 support. Bitcoin (BTC) remains stuck inside a narrow range, making it difficult to predict the direction of the next possible breakout. The United States dollar index (DXY), which generally moves in inverse correlation to Bitcoin, dropped below 100 but that has failed to propel Bitcoin higher. This suggests that Bitcoin is charting its own course in the near term. Therefore, the earnings season from big companies this week may sway the U.S. equities markets but may not have the same effect on Bitcoin. It is becoming increasingly difficult to pinpoint the event or the news flow that will cause Bitcoin’s price to escape the range. Daily cryptocurrency market performance. Source: Coin360 The uncertainty about Bitcoin’s next directional move has not deterred the whales. CryptoQuant’s contributing analyst SignalQuant highlighted that the on-chain indicator, the unspent transaction outputs, has been risi...

Projects were allegedly swayed into signing contracts with dubious market makers as consideration for listing on crypto exchange Coinone. According to local news outlet The JoongAng, an indictment on May 22 revealed that four individuals named Mr. Jeon, Mr. Kim, Mr. Ko and Mr. Hwang in court proceedings, all of whom were employees of South Korean crypto exchange Coinone, allegedly used illicit means to profit more than 2.98 billion Korean won ($2.26 million) during coin listing s from various projects. At least 46 coins were involved in the incident lasting from November 2019 to December 2022, accounting for nearly 25% of all tokens listed on Coinone. As told by prosecutors, Coinone executives and staff members required projects to sign a market-making (MM) contract with a specific MM company through brokers before a coin’s listing. This was done to ensure sufficient liquidity in trading volume after the new coins were listed. However, the contract’s recipients allegedly operated i...

The Web3 wallet allows institutions to control which employees are allowed to use the tokens held within it. Securities token platform INX has launched a wallet with compliance features for institutions, according to a May 3 announcement. The new wallet was created in partnership with wallet infrastructure provider BitGo and uses multi-party computation (MPC) technology. Exciting announcement! INX now collaborates with @BitGo to enable institutional #investors to fully and confidently participate in the #security #tokens market and the greater digital economy: ️https://t.co/AbpdS86lYk — INX (@INX_Group) May 3, 2023 INX securities tokens exist on the Ethereum network and follow the ERC-1404 token standard. The standard was created in 2018 to allow for compliance-friendly Ethereum tokens. These tokens can only be transferred between users that have passed identity verification with a participating institution. The new wallet allows institutions to comply with cybersecurity and cu...

Bitcoin’s failure to clear the overhead resistance at $30,000 is attracting profit-booking in select altcoins. Bitcoin (BTC) has been trading below $29,000 for the past several days. The analyst community remains divided on the near-term prospects of Bitcoin. While some believe that Bitcoin could rise to $30,000, others are of the opinion that a local top has been made. Bloomberg Intelligence senior macro strategist Mike McGlone said that cryptocurrencies, along with the stock market, crude oil and copper may find it difficult to sustain the recent bounce because bank liquidity levels remain tight. Daily cryptocurrency market performance. Source: Coin360 On the other hand, SkyBridge Capital founder Anthony Scaramucci, while speaking with Yahoo Finance, said that Bitcoin’s bear market may be over, but he added that it was a guess. However, Scaramucci highlighted that Bitcoin has repeatedly outperformed other asset classes over the long term. Will Bitcoin turn down from the current leve...

Technical charts are beginning to suggest that BTC is at the end of its bear market cycle, and traders believe this could yield positive results for most altcoins. Bitcoin (BTC) has been sustaining above the $25,000 level for the past few days, increasing the likelihood that the bear market may have ended. Generally, in the initial stages of a new bull phase, several analysts remain in a state of disbelief and expect the resumption of the downtrend. Another group of traders continue to wait for the dip to buy at lower levels but the price does not oblige. Finally, the traders sitting on the fence throw in the towel and buy and that is when the correction is likely to happen. Such a pullback shakes out the weak hands and transfers the asset into the hands of investors with conviction. Daily cryptocurrency market performance. Source: Coin360 When a new trend is getting established, certain events tend to cause a knee-jerk reaction but it is unlikely that the trend is reversed. In Bitco...

Bitcoin and U.S. equities markets are attempting to recover, but selling at overhead resistance could continue to weigh on the bullish momentum. Bitcoin (BTC) and the United States equities markets are trying to start the week on a positive note but some analysts are skeptical about the short-term prospects of the markets. According to Bloomberg Intelligence senior macro strategist Mike McGlone, Bitcoin will face significant resistance at $25,000. McGlone believes that it “may be a while before buy-and-hold types gain the upper hand.” It also looks like Bitcoin whales, unique entities owning 1,000 Bitcoin or more, are also not convinced of the recovery in the crypto markets. According to Glassnode, Bitcoin whale numbers have fallen to 1,663, which is well below the peak of 2,161 hit in February 2021. Daily cryptocurrency market performance. Source: Coin360 It is difficult to catch the bottom in any market. Hence, traders should try to build a portfolio when they believe that the downt...